Audio Precision (AP), the Oregon-based developer of test and measurement (T&M) equipment for the pro-audio industry, has ended 2014 with a change of ownership.
As of 16 December 2014, company ownership has been transferred from majority shareholder Bruce Hofer to AP’s management team.
Hofer will continue his association with the business in his new role as chairman. Dave Schmoldt, AP president, becomes CEO.
“Since helping to establish AP thirty years ago, one of my primary goals has been for the company to be the performance leader in our industry,” says AP co-founder and chief analogue designer Hofer. “I have the utmost confidence in AP’s strategy and leadership team going forward, so this evolution of our organisation will allow me to concentrate on pushing the boundaries of performance in audio measurement.”
“The leadership team is grateful for this vote of confidence from Bruce and the board,” adds Dave Schmoldt, AP president and CEO. “Our entire organisation appreciates Bruce’s continued contributions, and strives to emulate his long-standing commitment to our customers and to the advancement of audio test.”
Earlier this year, AP launched the APx555, “the culmination of 30 years of experience” that represents “the most powerful and capable audio test instrument ever developed”.